Appraisers can perform their best when they have the most information. As a home appraiser, it is our job to gather as much information as we can in order to make informed decisions. This could be pertaining to the selection of comparables, the appropriate adjustments, and how we reconcile the final opinion of value. Realtors can be a helpful part of this process.
The lender may provide a copy of the contract to the appraiser but there are times when they do not. With everyone wanting the home appraisal process to go in a smooth an efficient manner, if the realtor provides a copy of the contract it will ensure no delays for the appraiser not having one. The appraiser reviews the purchase price, date, concessions, that both parties signed it and makes sure the seller is on record as the owner. This is another check point to ensure no red flags.
Some appraisers may not want the realtor to provide comparables, however I have found that they can be helpful. When realtors ask if I want them to provide comparables, I always reply with “I am happy to review however I’m not obligated to use them” as I will always research the comparables myself regardless. Sometimes they will be in alignment with the ones I select and other times they may be on the other side of town and completely irrelevant. Some realtors will provide notes on the listing sheets stating that they have been inside that home and here is why or why not it is similar to the subject property which I find helpful.
This is important market data as it lets the appraiser know that there is real demand for the property. This is data that only the realtors know about. It is the appraiser’s job to research the market to find comparable sales that will support the market value, however if the market is hot, it sometimes cannot catch up to the value that is over asking of the list price. By providing data to the appraiser about the multiple offers, it can be helpful in reconciling a value on perhaps the higher end when dealing with a range of values from the adjusted comparables.
When available, providing a copy of the floor plan can be helpful. While the appraiser will measure the exterior and sketch out a simple floor plan, providing a professional floor plan can display some details and help to ensure the appraiser finds the small powder room off in a corner. Sometimes an appraiser will find that the house is listed as a 4 bedroom when one of the bedrooms is in the basement, which does not count as a bedroom in New Jersey. Other times there are unique angles to a house and the floor plan can help to grasp the appraiser’s bearings.
While an appraiser should be extremely familiar with the area that the subject property is in, this is not always the case. For example, a realtor should mention that this is a highly desirable location because it is in walking distance to the elementary school, downtown, and train station. Pointing out the physical features of the house can also be helpful to the appraiser.
Typically, the appraisal inspection can take 15-45 minutes depending on the size of the home. Whether you are a buyer’s agent or seller’s agent, by having a realtor provide these details, it can help for a smoother and potentially faster appraisal process. If a realtor has any questions regarding an appraisal, feel free to call us 908-233-1337.
Evan from American Realty Appraisals came out to our home last spring to conduct a home appraisal in support of our property tax appeal. He arrived promptly at the agreed time, was very professional and conducted a thorough walk through. We were very satisfied with the results of his appraisal - they were well-researched and accurately captured the features of the home. His appraisal proved to be a crucial element in a very successful tax appeal. I would gladly recommend his services to others.
I was extremely pleased in my experience with American Realty Appraisals. Evan was very knowledgeable and was happy to answer any questions I had. His appraisal was useful in our being able to successfully appeal our taxes. It was worth every penny. He also shared some suggestions on how to shore up insulation efficiency around the house. 5 Star service. thanks!
Evan was extremely helpful in our obtaining a favorable result from our tax appeal and I highly recommend his services
If you want the Do's and Dont's. I would say DO use Evan. It was a very smooth and easy process. He worked around my schedule. His turnaround time was very impressive. Price: He was in line with the other quotes I received. And you DON'T need to worry. I will recommend him and use him again
Prepared the documents to submit for a tax appeal and accompanied me to the tax appeal hearing to present my case. I have used American Realty Appraisals twice and have won my tax appeal each time.
I was appealing my real estate taxes and American Reality did an appraisal on my home. The appraisal went well and as a result the tax appeal was successful and our real estate taxes were lowered.
I was ignoring go through Tax appeal process because I thought it was so cumbersome with very little chance of winning. In this process, I used Evan for a tax appeal. Not only we won but it was very easy and simple process between him and the lawyer. I highly recommend to use Evan, he knows what he is doing!
The tax appeal through you and Lisa Walsh was successful, and you may use me as a reference any time in the future
Evan was great. He was instrumental in helping me to appropriately lower my taxes via an accurate appraisal. I highly recommend his services to anyone in need of an appraisal in NJ.
When the interest rates dropped last year, I decided that it was a good idea to refinance my mortgage. I was recommended to American Realty Appraisals by my mortgage company. They were affordable, expedient, and ultimately put together a very comprehensive report with figures, photos, and local comps. I would highly recommend them to anyone looking for a professional and honest appraisal company.
Evan and his team at American Realty Appraisals are simply the best at what they do. As a mortgage banking professional, I have worked with dozens of appraisal firms over the years and I continually return to American Realty Appraisals when I can for their expert advice and service. I would highly recommend them if you are an individual looking to have your home appraised, or a banker looking to add a high quality appraisal firm to your list of approved appraisers.
Before I went to list my home, I hired Evan at American Realty Appraisals. I wanted an unbiased opinion of what my home was worth. He provided a thorough report that gave me piece of mind and a leg to stand on when it comes time to negotiate. I was also pleased with how fast he turned the report around after the inspection.
I am an attorney in Westfield and I refer all of my clients to American Realty Appraisals. I have worked closely with Evan Siegel for the past two years and I have been impressed with his professionalism, integrity and expertise as an appraiser. Relying on his appraisals, I have been able to negotiate property tax reductions for numerous clients in Union County. I highly recommend American Realty Appraisals for all of your residential real estate appraisal needs.
ARA did a great job of handling my tax appeal. The guidance was spot on and the staff, specifically, Evan Siegel, was professional and knowledgeable. The outcome was excellent and I'm saving a good amount of money on my real estate taxes. Thanks ARA!!
I used Evan for a tax appeal project. It was a seamless operation between him and the lawyer. Zero blips, and we won.
Mr. Siegel performed an appraisal for my home for tax appeal purposes. He was very professional and helped me lower my taxes by 17%. I am quite satisfied with his work.
Highly recommend. Excellent service, professional, prompt. Great result